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Single people pay £860 more than couples on monthly bills

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Being single doesn’t come cheap, there’s even a term called ‘single tax’ which refers to the extra cost a person incurs because they’re not in a relationship.

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Financial services provider Hargreaves Lansdowne breaks down how expensive it really is to be single, with founder Nicola Slauson. single complement calls ‘single shot,

Single people are spending an average of £1,851 on monthly bills compared to £991 if you live with a partner – which essentially means that if you’re single you’ll pay a lot more a month than your paired-up mates would cost £860 more.

It doesn’t just stop there, the report also found that single people were less likely to have a substantial amount of emergency savings, 53 percent compared to 79 percent of those in relationships. Single people are less likely to have enough cash left at the end of the month than a couple, who are considered financially flexible.

Single people living alone already pay £7,564 more in living costs each year than co-living couples, according to research. Ocean Finance.

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The findings are bleak but unfortunately this is not the only blow to people.

User @ambravernuccio commented on The Times Instagram post saying, “Absolutely true, especially for women. Basically, society is telling single women to stay coupled or in abusive relationships because many want to be alone.” Can’t take the risk.

“Forget about getting your own property in London. Practically impossible! I feel punished for being single.’

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financial writer Ellie Austin-Williams, founder of this girl talks about money and host of money unfiltered podcast, says that being single can have a “huge impact” on one’s finances.

She previously told HuffPost UK, “There are not only more obvious benefits to single people splitting the burden of rising bills, exorbitant rental costs, and food outlets with rising prices, but there are also some less obvious effects on single people.” “Even with the cost of living crisis, events such as weddings are still going ahead and the cost of attending for single people can often be far higher than for a couple, with hotel rooms costing a or the same for two people.

there are certain ways in which single people are perceived – for example, they are eligible for a 25% reduction in their council tax bill, But in terms of cost of living, many are questioning why this discount is not 50%. At present, the average Band D wealth of unmarried people pay £113.60 per month on council tax, but individuals with partners only paid £75.75.

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(translate to tag) money and work (T) at what cost (T) being single

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